Elliott Wave Analysis: Netflix

By Peter Mathers of Trading Lounge

Elliott Wave Analyst - tradinglounge • Aug 10, 2022 at 9:15 AM EDT

Looking for a potential ending diagonal in wave {c} of A to be near completion. Ideally, we want to see a strong move lower in the following days to confirm the analysis.

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Netflix Inc., Elliott Wave Technical Analysis

Netflix Inc., (Nasdaq: NFLX): Daily Chart, August 10, 2022,
NFLX Stock Market Analysis: Looking for a potential ending diagonal in wave {c} of A to be near completion. Ideally, we want to see a strong move lower in the following days to confirm the analysis.

NFLX Elliott Wave count: Wave {c} of A.
NFLXTrading Strategy: wait for the initial move down in wave {a} of B to then look for additional downside.

NFLXTechnical Indicators: We are well below the 200 EMA as well as we are forming bearish divergence on the RSI.

Analyst: Alessio Barretta

Netflix Inc. NFLX: 4-hour Chart, August 102022,

Netflix Inc., Elliott Wave Technical Analysis

NFLX Stock Market Analysis: Looking for downside to come soon, we would like to see the 220$ being broken as that would provide additional confirmation.

NFLXElliott Wave count: Wave {c} of A.
NFLX Technical Indicators: We are close to the 200 EMA but still below. That could act as resistance and drive prices lower.

NFLXTrading Strategy: Looking for a break of the 220$ is to have additional confirmation.

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